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>>Can Cardano’s price recover from its all‑time low before the Leios testnet launch?

Can Cardano’s price recover from its all‑time low before the Leios testnet launch?

crypthub

2 days ago

Current Price Situation

Cardano’s ADA fell to a record low of $0.2168 earlier this year and now trades around $0.25. The decline erased most of its market‑cap, dropping from over $90 billion to roughly $9 billion. Despite the Midnight mainnet launch, the token has failed to regain momentum. Investors remain cautious as the price hovers near key support levels.

Leios Upgrade and Midnight Partnerships

The network’s next big event is the Leios upgrade, with a testnet slated for June and a mainnet later in the year. Leios aims to boost throughput by introducing parallel processing, ranking and endorsement blocks, and validation committees, targeting thousands of transactions per second. Midnight, Cardano’s privacy sidechain, has already secured partnerships with Momentum Bank, Sundae Labs, Fluid Tokens, Houdini Swap, and SecondSwap. These collaborations are intended to bring tokenized assets and liquidity to the ecosystem.

Recent Milestones vs. Low Adoption

Cardano has added several components under the Pentad proposal, including the Pyth oracle, Dune Analytics, and USDCx, while reaching 120 million on‑chain transactions. Nevertheless, total value locked sits at only $137 million, far behind Solana, BSC, and Ethereum. Stablecoin supply is modest at $48 million, and network fees fell to $60,700 in March, the lowest in years, leading critics to label it a “ghost chain.”

Technical Outlook and Price Forecast

Technical charts show ADA below its 50‑day moving average and the key $0.2825 support level, with RSI in oversold territory. The ADX has risen to 34, indicating an accelerating downtrend. Analysts expect further downside pressure, potentially testing the psychological $0.20 level before any rebound linked to the Leios testnet.